There are generally three main routes to go solar in Canada;
these options are summarized below;
- Purchase: Outright
ownership of the system from the initial installation. This
requires greater initial capital investment and the owner assumes
the ongoing operating and maintenance costs.
- Lease to own: Allows the
home owner to eventually own the system by paying it off over a set
period. Typically solar companies allow consumers to buy-out the
rest of the cost of the system at any time.
- Power purchase agreement:
Provides a green power option for the consumer to purchase
electricity from the solar system. Typically offered by electrical
solar contractors and / or your electrical utility company.
Which option you choose will depend on a number of factors, some
are listed below. These certainly are not the only factors when
choosing solar power, but they are the main ones:
- How much you can initially afford to spend on your system.
- How much ongoing operation and maintenance work/risk you want
to assume.
- How you are compensated for the electricity generated by your
solar PV system where you live.